Yucheng Logistics (08489) issued an announcement. The Group expects the year ended December 31, 2023 (2023...
According to the Zhitong Finance App, Yucheng Logistics (08489) announced that the Group expects to obtain revenue of approximately HK$820 million to approximately HK$830 million for the year ended 31 December 2023 (fiscal year 2023), while revenue for the year ended 31 December 2022 (fiscal year 2022) is about HK$674 million; gross profit of approximately HK$50 million to approximately HK$55 million in fiscal year 2023, while gross profit for fiscal year 2023 is approximately HK$27.2 million; and net loss of not more than 200 million HKD for fiscal year 2023 HK$10,000, while the net loss for fiscal year 2022 was approximately HK$27.6 million.
According to the announcement, the sharp increase in expected revenue and gross profit and the sharp decrease in net loss are mainly due to the Group's overall growth in freight service demand returning to pre-COVID levels, and the Group's ability to pass on the increased freight charges to its customers; and the net impact of impairment losses on trade receivables of approximately HK$2.8 million in fiscal year 2023, and the lack of impairment losses on property, plant and equipment in fiscal year 2022 of approximately HK$4.5 million.